What is Zacks Research’s Forecast for Methanex Q4 Earnings?

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Zacks Research upped their Q4 2024 earnings per share (EPS) estimates for shares of Methanex in a research note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the specialty chemicals company will earn $0.65 per share for the quarter, up from their prior forecast of $0.64. The consensus estimate for Methanex’s current full-year earnings is $2.93 per share. Zacks Research also issued estimates for Methanex’s Q1 2025 earnings at $0.89 EPS.

Other equities analysts have also recently issued reports about the stock. Barclays lifted their target price on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. UBS Group dropped their price objective on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research note on Tuesday, September 3rd. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Raymond James reduced their price objective on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Methanex presently has a consensus rating of “Moderate Buy” and an average target price of $55.88.

Methanex Trading Up 0.5 %

MEOH opened at $46.52 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. Methanex has a 52 week low of $36.13 and a 52 week high of $56.43. The business’s 50 day moving average is $42.07 and its two-hundred day moving average is $45.58. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 21.74 and a beta of 1.36.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

Institutional Trading of Methanex

Several hedge funds have recently modified their holdings of MEOH. Toronto Dominion Bank grew its holdings in Methanex by 19.6% during the second quarter. Toronto Dominion Bank now owns 33,229 shares of the specialty chemicals company’s stock worth $1,604,000 after acquiring an additional 5,451 shares during the period. Millennium Management LLC boosted its position in shares of Methanex by 13.0% during the 2nd quarter. Millennium Management LLC now owns 508,730 shares of the specialty chemicals company’s stock worth $24,551,000 after purchasing an additional 58,719 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Methanex during the 2nd quarter worth $201,000. Truist Financial Corp increased its holdings in shares of Methanex by 5.0% in the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after purchasing an additional 294 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Methanex by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 944,262 shares of the specialty chemicals company’s stock valued at $45,570,000 after purchasing an additional 30,887 shares during the period. 73.49% of the stock is owned by institutional investors and hedge funds.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.